Supports - Enterprise Ireland Business Response – COVID-19
- A Rapid Response Research and Innovation programme to help mitigate the Covid-19 pandemic has been developed by the Government’s Research & innovation agencies including Enterprise Ireland, Science Foundation Ireland, IDA, the Health Research Board and the Irish Research Council.
- €200m Package for Enterprise Supports including a Rescue and Restructuring Scheme - available through Enterprise Ireland for viable but vulnerable firms that need to restructure or transform their businesses, details of these supports are being finalised.
- €200m Strategic Banking Corporation of Ireland (SBCI) Working Capital Scheme - For eligible businesses impacted by Covid-19.
- Short Time Work Support - available from the Department of Employment Affairs and Social Protection and is an income support payment for employees who have been temporarily placed on a shorter working week, due to business challenges affecting their employment. It is intended to help employers during periods of temporary difficulty, without resorting to permanent layoffs. Employer and employee application forms and more detail can be found at www.gov.ie/stws. Employees can also apply for Short-time Work Support at their local Intreo Centre or Branch Office.
- COVID-19 Pandemic Unemployment Payment - from the Department of Employment Affairs and Social Protection will be available to all employees and the self-employed who have lost employment due to a downturn in economic activity caused by the COVID-19 pandemic.
- Finance in Focus - The Finance in Focus grant offers Enterprise Ireland and Údarás na Gaeltachta clients funding of up to €7,200 to cover third party consultant’s fees. The grant supports the development of a financial and business plan that identifies funding needs and potential sources of funding.
- Strategic Consultancy Grant- The grant supports the hiring of a strategic consultant typically over a longer period to assist the company in the development and/or the implementation of strategic initiatives. It is designed to facilitate business growth as the consultants can act as coach, mentor, facilitator, analyst for the company. Eligible projects must be new assignments of strategic significance to the company such as a specific strategic review of one or more business functions e.g. review of the company’s treasury policy and/or implementation of a new strategic initiative e.g. preparation and implementation of new multi-currency forecasting tools and procedures.
- Act On Initiative - Act On programme has been developed to focus on three main areas of capability (1) Financial Management (2) Strategic Sourcing and (3) Transport and Logistics. The initiative helps companies decide on specific actions over a short period to address some of the risks and opportunities from Covid-19. This initiative for Enterprise Ireland clients is delivered at no cost to the company.
- Enterprise Ireland Key Manager / Part Time Key Manager Support - The aim of this initiative is to provide partial funding towards the cost of recruiting a Full Time or Part Time Key Manager with skills that are critical to the future growth of the client. This individual must contribute to significant and measurable improvements in company productivity and/or changes in its output to meet defined market requirements. The Part Time Key Manager grant has been introduced in order to support companies to attract senior leadership talent by offering more flexible working arrangements.
- Agile Innovation Fund - The Agile Innovation Fund has been developed to support product, service and process innovation to build competitive advantage. The new Agile Innovation Fund allows companies to access up to 50% in support towards innovation projects with a total cost of up to €300,000, and can also be availed of by Local Enterprise Office clients.
- Be Prepared Grant- The Be Prepared Grant is designed for Enterprise Ireland clients who would benefit from further research and external expertise in examining their exposure to Covid-19 and exploring ways of addressing this. The grant, which offers up to €5,000 or 50% of the total cost in financial support, can be used to help cover consultancy, travel and expenses for both domestic and international employee travel. The grant is intended to provide strategic support to clients to use internal resources or a third-party consultant to undertake a short project to determine how the company could respond to Covid-19.
- The Business Process Improvement Grant is used to support short to medium term company projects that improve efficiencies and business process improvements. Specific E-marketing support is available through this grant to develop and enhance your company's capability to use the internet as an effective channel for business development. Further information can be found here or by contacting firstname.lastname@example.org
- Operational Excellence Offer - The new Operational Excellence Offer enables Irish companies trading internationally to develop or transform their wider business inorder to compete more effectively. The offer allows eligible companies to access financial support for business or operational change projects. The goal is to incentivise and support the key elements of a larger transformation project leading to significantly increased competitiveness.
- Business Continuity Voucher - The new Business Continuity Voucher, available through Local Enterprise Offices, is designed for businesses across every sector that employ up to 50 people. The voucher is worth up to €2,500 in third party consultancy costs and can be used by companies and sole traders to develop short-term and long-term strategies to respond to the Covid-19 pandemic. Find out more here.
- Additional financial supports are available locally through the 31 Local Enterprise Offices and Microfinance Ireland. The maximum loan available from Microfinance Ireland will be increased from €25,000 to €50,000 as an immediate measure to specifically deal with exceptional circumstances that micro-enterprises are facing.
- The Credit Guarantee Scheme is a government supported product from the banks for small and medium businesses who have difficulty borrowing from their bank. Businesses can apply for loans of up to €1 million at AIB, Bank of Ireland or Ulster Bank. Loans can be for terms of up to 7 years. The scheme provides an 80% guarantee to participating banks which are AIB, Bank of Ireland and Ulster Bank.
- The SBCI Covid-19 Working Capital Loan Scheme is offered in partnership with the Department of Business Enterprise and Innovation, the Department of Agriculture Food and the Marine and is supported by the InnovFin SME Guarantee Facility, with the financial backing of the European Union under Horizon 2020 Financial Instruments. Loans can be provided for future working capital requirements or to fund innovation, change or adaptation of the business to mitigate the impact of Covid-19. Find out more here
- Information, advice and webinars - Enterprise Ireland will engage directly with businesses to provide information and practical support. Over the coming weeks, Enterprise Ireland will be developing an online portal of relevant advice, articles and webinars which will be accessible here.
- Enterprise Ireland Market Research Centre offers client companies access to market intelligence in the form of company, sector, market and country information.
The Market Research Centre can also offer assistance in scoping out information needs and highlighting resources and many resources can be sent to clients under legal agreements with providers.
You can access the resources available at the Market Research Centre here and identify report titles online here
Clients are invited to contact the Enterprise Ireland Market Research Centre via the dedicated MRC email: email@example.com
- EI Virtual Mentoring Support: Enterprise Ireland’s Mentor Network has a panel of more than 400 highly experienced business people. These are entrepreneurs, founders and senior executives with international commercial business development experience. They can offer practical advice, guidance and support at this time.
For further information email Mentor.Network@Enterprise-Ireland.com or find our more here
- eiLearn Online Learning Platform - Enterprise Ireland have designed this online learning platform, eiLearn, to help you overcome some of the key challenges facing you in growing a business and making it ready to tackle international markets and grow your business globally. eiLearn is an online learning resource where you can access over 400 pieces of customised content designed for Irish SMEs. Find out more here.
Contact firstname.lastname@example.org for further information.
Back to: Enterprise Ireland Business Response – COVID-19 homepage